Latest RMBS news
Members of the Federal Open Market Committee (FOMC) in July were divided on when to start winding down the Federal Reserve’s balance sheet, according to meeting minutes, with some members also warning on price appreciation in the multifamily real estate market.
Italy and its mountain of bad debt are firmly in focus for the European banking system, with observers hoping the country can look to other European nations, particularly Ireland, for a solution to its non-performing loan dilemma.
Elan Woninghypotheken has sold its latest Dutch RMBS deal using a modified auction process for all tranches except the senior notes, making it the third ABS issuer to go this route this year.
China Central Depository and Clearing (CCDC) published its biannual report on China’s asset backed securitization (ABS) market on August 8. It recommended regulators loosen up liquidity, provide incentives to attract more participants, and test the waters by opening an offshore ABS market. Here’s a quick guide to what CCDC said.
The European Union's ban on securitizing self-certified residential loans has been widely criticised by the market since being introduced last month, with DBRS adding to the outcry this week, describing the rule as a “solution looking for a problem”.
The Blackstone Group’s Invitation Homes will merge its single family rental portfolio with Starwood Waypoint Homes, in a deal that will create the largest SFR portfolio in the US.
Private equity firms and loan investors are taking a keen interest in Greece, prompting a rush to establish servicing platforms to take advantage of the attractive fees associated with the resolution of non-performing loans. Owen Sanderson and Sam Kerr report.
The UK ABS market has slowed with the rest of Europe in August, with fewer investors participating in recent deals. But sources said September is primed for a strong comeback.
Attractive arbitrage is encouraging more prime jumbo RMBS issuance, with JP Morgan set to launch a new $1bn deal this week.
Despite UK assets offering juicier spreads than their European counterparts, distribution stats show little European investor participation in UK deals. That might be disappointing for UK issuers, but at least it means little to fear from a hard Brexit.
Go to GlobalCapital's Securitization data pages for our dealflow database, plus details of priced European and US CLOs and structured finance bookrunner league tables.
Latest securitization people & markets news
- Bond Connect investors test drive Ford China ABS
- RMB round-up: China adds perks to lure foreign investors, advisor says PBoC won’t follow Fed hike, MofCom hits back at Trump’s IP investigation
- National Bank of Greece hires HSBC’s Karamouzis as head of CIB
- Eurobank nears landmark Greek NPL sale
- Personal loans scarier than autos, say investors
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|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|1||Bank of America Merrill Lynch (BAML)||4,755||19||11.75|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|2||Bank of America Merrill Lynch||64,298.92||202||11.54%|
|3||Wells Fargo Securities||55,583.74||178||9.98%|